In December, DYdX, Optimism, 1inch, and Aptos are anticipated to unlock more than $750 million in tokens, as reported by Token Unlocks, a data tracker.
In the upcoming token releases, dYdX, a decentralized exchange, will unlock the most substantial amount. In December, the exchange plans to unlock 150 million tokens allocated for investors, founders, and employees. These tokens, valued at nearly $500 million based on current market prices, are part of the scheduled release.
dYdX Token Release and Upcoming Unlocks
Initially slated for release in February, dYdX tokens faced a delay when the exchange extended the lock-up period, as announced in January. The tokens, initially set for release in February, are now scheduled to unlock on December 1, 2023, at 12:00 am UTC. Following this initial release in December, more tokens from dYdX are planned to be unlocked between January 2024 and June 2024.
In addition to dYdX, other projects are gearing up to release their locked token allocations. According to Token Unlocks, a token data tracker, Optimism, an Ethereum layer-2 network, is set to unlock 24 million Optimism (OP) tokens, valued at approximately $41 million, on November 30.
Upcoming Token Releases: 1inch and Aptos Join the List
In addition to dYdX and Optimism, the decentralized finance protocol 1inch Network is preparing to release approximately 98 million 1inch (1INCH) tokens on December 1. As of now, these tokens are valued at about $33 million.
Simultaneously, the proof-of-stake blockchain project Aptos is poised to release a substantial number of tokens in December. According to Token Unlocks data, Aptos will unlock nearly 25 million Aptos (APT) tokens, estimated to be worth nearly $180 million, on December 12.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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